Bernie: Teams can spend less money

Date published: March 14 2015

Bernie Ecclestone has once again hit out at the F1 teams for spending more than they have but says he can't control what they do.

Money is as always a hot topic in Formula 1 with midfield and backmarker outfits all complaining that they do not have enough.

That prompted Ecclestone to even pay some teams part of their 2015 prize money even before the season began.

And although many are forever blaming the rising cost of competing in F1, Ecclestone says the problem lies with the teams.

"What can we do about the teams? Their companies are in the shit because they spend more than they have got," he said in an interview with The Independent.

"They can spend less money. It’s nothing to do with us. We can’t control people’s spending. It’s the same in every sport.

"In what I call the good old days, all it took was having a chat with the people that had the money, like Colin [Chapman, Lotus founder]. Now they come along with lawyers and can never agree on anything.

"The real difference is attitude and people. You used to have proper people. Now you get suits with short pockets, not deep ones."

The financial crisis has resulted in several smaller teams calling for a fairer distribution of F1's prize money.

But while Ecclestone is okay with that happening, it would take all the teams agreeing to it and that he says will never happen.

"Yes, absolutely I would be happy to change the prize-money distribution if everyone agreed to it but it’s not going to happen," he said.

"It isn’t fair that the top teams get so much. Lots of things are not fair in this world, though. It’s not fair that kids are starving when other kids are throwing food away."